Chipotle Announces Plans To Increase Menu Prices

This marks the first time in over a year the Mexican-fast-food chain decided to raise prices.

Chipotle announced it is raising menu prices.

The current prices of each item will be increased by 2%.

This marks the first time in over a year the Mexican-fast-food chain decided to raise prices.

The 2% uptick will be applied to locations nationwide and was placed to offset inflation.

Chipotle also acknowledged higher food costs that came as it responded to viral online complaints about shrinking portion sizes.

The company is currently in a period of transition after the exit of CEO Brian Niccol, who took over CEO duties for Starbucks in August.